NICO GENERAL INSURANCE COMPANY LIMITED

NICO General Insurance Company Limited was formed as the short-term division of the National Insurance Company Limited (now NICO Holdings Limited), which was incorporated as a composite insurance company in 1970.

SHAREHOLDING

NICO General Insurance Company Limited is a wholly owned subsidiary of NICO Holdings Limited, a financial services group whose core business is insurance and banking services. In addition NICO Holdings has an investment portfolio spanning hotels, real estate, a hospital, and a shopping mall. Other companies under NICO Holdings Ltd are NICO Life Insurance Company Limited, NICO Zambia Insurance Limited, NICO Insurance Uganda Ltd, NIKO Insurance Tanzania Limited, NICO Technologies Limited and the NBS Bank.

The group's corporate strategy is to expand representation in the SADC region in addition to the already existing short-term subsidiaries in Zambia, Uganda and Tanzania.

BOARD OF DIRECTORS

Felix Mlusu (Chairman)

Vizenge M. Kumwenda

Harold Bijoux (South African)

Gauton Kainja

Sangwani Hara

Chris Kapanga

Betty Kacelenga (Company Secretary)

NICO General Insurance Company Limited is the leading short-term insurer in Malawi with a market share of approximately 47% and a gross written premium figure of close to MK1.6 Billion for the year 2006.

Our core business is short term insurance, also known as general insurance. The security and peace of mind of our clientele are our top priorities. We provide a reliable and flexible claims service that is second to none on the Malawi insurance market.

We operate through a central control office in Nico House in the commercial city of Blantyre where our executive team is. We also operate three regional offices in the main cities of Mzuzu, Lilongwe and Blantyre. The control office focuses on core services including technical underwriting, marketing, claims support and finance functions whilst the branch offices deal with sales, claims and customer relationships.

The desire to bring insurance closer to the Insured and prospective clients and to increase convenience has brought about our operations to all three regions of Malawi; a network of intermediaries spread across Malawi complements this representation.

Our wide product range includes personal and commercial insurance covers such as motor vehicle, building and road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, loss of profits, burglary, house-owners and householders, personal accident and many more.

The senior management team at NICO General Insurance Company Limited is well equipped to meet the challenges of the future, combining a wealth of experience with professional qualifications.

In addition to our unrivalled technical and financial capacity to underwrite large risks in Malawi we have the support of highly rated Reinsurers' complementing our ability to underwrite world-class covers.

NICO General Insurance Company Limited seeks to attract clients and intermediaries who are prepared to nurture long-term partnership with the company, to ensure long lasting security and peace of mind.

We view our future prospects as bright, exciting and rewarding for clientele, shareholders and staff alike.

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